OTHER NEWS - April 24, 1995
<i> Times Staff and Wire Reports</i>
Luxottica Group to Pay $1.4 Billion for U.S. Shoe Corp. The Italian retailer said it reached a definitive agreement to buy the owner of Lenscrafter’s, Casual Corner women’s wear, Capezio and Evan-Picone footwear for $28 a share in cash. The offer represents an increase from the $24 a share, or $1.11 billion, Luxottica originally offered on March 3 when it began an uninvited takeover of the Cincinnati-based retailer. Luxottica will keep U.S. Shoe’s Lenscrafter’s unit and sell its women’s apparel division.
